FG MOVES TO BOOST FOOD PRODUCTION TO TAME INFLATION-EDUNML.(PHOTO).
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FG moves to boost food production to tame inflation — Edun
In a bid to tackle inflation and ensure food security, the Federal Government is intensifying efforts to increase food production in the country.
The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, in his remarks at the Nigerian delegation’s wrap-up press briefing, during the 2024 IMF/World Bank Annual Meetings in Washington DC, Sunday, stated that the government is focusing on collecting the wet season harvest and identifying small-scale farmers to ensure a good dry season harvest.
Mohammed Manga, Director, Information and Public Relations said in a statement late Sunday night that the Minister stated further that efforts were being intensified to increase food production in the country and that with better harvests, the inflation rate would fall, given that food was responsible for 50 percent of the Consumer Price Index.
He emphasised that “We need to remember that food represents 50 percent of the Consumer Price index.
“So, success in this area will help to drive down inflation in addition to all the other measures that the Governor of the Central Bank of Nigeria, using data, using evidence-based information to fight inflation is implementing.
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